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Sensex ends 137 pts down, Nifty at 10,458 levels; PSU banks fall

All that happened in the markets today.

SI Reporter  |  New Delhi 

The benchmark indices ended marginally lower on Thursday afternoon amid thin trade. The S&P BSE Sensex ended the day at 34,047, down 137 points while the broader Nifty50 index settled at 10,458, down 34 points. Indian equity, forex and commodity markets will remain closed on Friday, March 2, 2018, on account of Holi. Among sectoral indices, Nifty PSU Bank index fell 1.87% on Thursday led by a decline in the shares of Indian Bank, Canara Bank and Bank of India. In the domestic market, economic growth recovered to a five-quarter high of 7.2 per cent during October-December, ...

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Sensex ends 137 pts down, Nifty at 10,458 levels; PSU banks fall

Top Sectoral loser: Nifty PSU Bank index

Sensex ends 137 pts down, Nifty at 10,458 levels; PSU banks fall

Sectoral Trend

Sensex ends 137 pts down, Nifty at 10,458 levels; PSU banks fall

Top Sensex gainers and losers

Sensex ends 137 pts down, Nifty at 10,458 levels; PSU banks fall

Markets at Close The S&P BSE Sensex ended the day at 34,047, down 137 points while the broader Nifty50 index settled at 10,458, down 34 points

Sensex ends 137 pts down, Nifty at 10,458 levels; PSU banks fall

ALERT: Indian equity, forex and commodity markets will remain closed on Friday, March 2, on account of Holi.

Sensex ends 137 pts down, Nifty at 10,458 levels; PSU banks fall

Sector watch: Auto The demand for auto components from domestic original equipment manufacturers (OEMs), especially high volume two-wheeler (2W) and passenger-vehicle (PV) industry which together constitute about two-third of overall ancillary industry size, has remained strong in Q3FY2018. Moreover, stellar growth in CV as well as tractor segment has further supported overall volume growth. According to an ICRA note on the industry, given the indicative trends, the growth momentum is expected to sustain in Q4FY2018 as well. This will be strongly supported by improved demand outlook in key end user segments as well as expected pickup in rural income. Going forward, pickup in infrastructure activity will further drive growth in construction & mining equipment as well as the tipper segment (classified under M&HCVs) (Source: ICRA report)

Sensex ends 137 pts down, Nifty at 10,458 levels; PSU banks fall

Fund flow tracker: January month flow update   India flows—listed funds turned net buyers in January. India saw inflows of US$3 bn, led by US$1.7 bn of non-ETF inflows and US$1.3 bn of ETF inflows. GEM funds saw higher inflows than India-dedicated funds. GEM funds saw US$1.7 bn of inflows (US$919 mn of ETF flows and US$745 mn non-ETF flows). India-dedicated funds saw US$821 mn of inflows, led by non-ETF inflows of US$579 mn.   Emerging market flows—China saw the highest inflows, US$9.2 bn, led by strong non-ETF flows of US$5.5 bn. Total FPI activity and EPFR activity showed similar trends for most of the countries in January. Country allocations—allocations to India and China constitute more than one-third of the average Asia ex-Japan fund portfolio. Allocation to India by Asia ex-Japanese funds declined to 11.8% in January from 13.6% a year ago. Fund allocation to India by GEM funds declined to 9.8% from 10.8% a year ago. Allocation by Asia ex-Japan non-ETF funds to India declined to 12.3% in January from 14.2% in January 2017. Allocation to India by GEM ETF funds increased to 9.4% in January from 9.3% a year ago. (Source: Kotak Securities report) foreign flows, Stock markets

Sensex ends 137 pts down, Nifty at 10,458 levels; PSU banks fall

Weight of cyclicals to go up in Nifty50 Effective April 2, Ambuja Cement, Aurobindo Pharma and Bosch will make way for Grasim Industries, Titan and Bajaj Finserv in Nifty 50. Consequently, the sectoral weight will increase in Consumer Discretionary (+82bps), NBFC (+61bps) and Cement (+60bps) at the expense of Auto (-55bps), Pharma (-47bps) and Private Bank (-34bps). Moreover, the number of financials will increase to 11 and their weight will marginally increase from 36.4% to 36.6% (Source: Elara Capital report)

Sensex ends 137 pts down, Nifty at 10,458 levels; PSU banks fall

Market check Index Current Pt. Change % Change   S&P BSE SENSEX 34,058.09 -125.95 -0.37   S&P BSE SENSEX 50 10,924.42 -35.10 -0.32   S&P BSE SENSEX Next 50 33,682.82 -208.28 -0.61   S&P BSE 100 10,825.16 -39.79 -0.37   S&P BSE Bharat 22 Index 3,579.61 -16.94 -0.47 (Source: BSE)

Sensex ends 137 pts down, Nifty at 10,458 levels; PSU banks fall

K R Choksey Institutional Research on VA Tech Wabag At Rs 550, the stock is trading at 14.2x on FY19E and 11.4x on FY20E of our earnings estimates. The stock has been historically trading at medium multiple of ~17x on 1 yr fwd and ~12x 2yr fwd P/E band. However, valuations improved at the time of NDA victory on the expectations of uptick in the order activity. We expect more wastewater treatment order to be announced before next election and hence, players like VA Tech Wabag are expected to benefit from this process. This, in turn, could improve valuations of the company and hence, valuing the company at 15x on FY20E earnings of Rs 48.1, we have arrived a target price of Rs 722, potential upside of 31% from Rs 550. We have ‘BUY’ rating on the stock.

Sensex ends 137 pts down, Nifty at 10,458 levels; PSU banks fall

Edelweiss on HUL We envisage HUL to be key beneficiary of anticipated rural recovery and herbal push. We estimate better-than-expected volume growth (trend too indicates the same) and with rural revival in the offing, we retain our target multiple of 47x and arrive at target price of rs 1,518 on FY20E EPS. Maintain ‘HOLD/Sector Performer’ since at the current market price, the stock offers limited upside

First Published: Thu, March 01 2018. 15:30 IST
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Sensex ends 137 pts down, Nifty at 10,458 levels; PSU banks fall

All that happened in the markets today.

The benchmark indices ended marginally lower on Thursday afternoon amid thin trade. The S&P BSE Sensex ended the day at 34,047, down 137 points while the broader Nifty50 index settled at 10,458, down 34 points. Indian equity, forex and commodity markets will remain closed on Friday, March 2, 2018, on account of Holi. Among sectoral indices, Nifty PSU Bank index fell 1.87% on Thursday led by a decline in the shares of Indian Bank, Canara Bank and Bank of India. In the domestic market, economic growth recovered to a five-quarter high of 7.2 per cent during October-December, ...

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